Regional Round-Up
Passengers desert MAS after MH370 disappearance
June 1st 2014
Beleaguered Malaysia Airlines (MAS) has posted a first quarter loss, to March 31, of US$138 million, a 60% decline over the same period a year ago. The company said tough operating conditions and a collapse in bookings, especially in China, following the disappearance of its MH370 aircraft and its 239 passengers and crew, had resulted in the widening losses. Read More » “The whole market has reacted by slowing down,” said MAS CEO, Ahmad Jauhari Yahya. The company needed to accelerate efforts to improve its revenue and better manage its high costs, which have increased, he said. “This need has become even more urgent for Malaysia Airlines’ survival and sustainability in a market that is not showing any signs of letting up on competition,” Yahya warned.
